What are the most reliable used car options out there? This study shows your best bets if you’re looking to keep maintenance costs in check.
Two words come to mind whenever we bring up average new car prices these days, and they are “broken” and “record”. Fortunately, average transaction prices (ATPs) actually fell a bit from January through February according to Cox Automotive subsidiary Kelley Blue Book, but they still remain stubbornly high at $48,039. With an average listing price of just over $25,006 (data also from Cox Automotive), used cars are much more attractive to the budget conscious buyer. It appears a ton of folks have hit that realization, as the used car market tightened amid a sales surge where many are looking to stretch their tax refunds. So, with that said, what are some of your most reliable options if you’re looking to buy second-hand?
It’s worth noting that used car sales typically jump from January to February with the influx of tax refunds in the U.S. Cox notes that the year-over-year jump of 16% this time around, though, is the highest in recent years. With lower average listing prices than we’ve seen in a similar time period — especially in 2022, when even used cars had insanely high asking prices, now could just be the time to buy. Data also shows March-April is one of the best times of the year to buy used, before prices rise through the summer months with higher demand and shorter supply. iSeeCars recently published a study showing the most reliable 5- and 10-year-old used buys, analyzing prices of 700,000 used cars against odometer readings in its “longest lasting cars” study to determine the best price-to-life-expectancy in the used car market.
The “best used cars for the money” list is awash with small hatchbacks, but there are a couple surprises here.
Fortunately, we don’t live in the COVID era of stupidly expensive used cars after years of pain, so there are plenty of solid five-year-old options out there for about $15,000-$25,000. And it’s hardly surprising which car hits the top of that list, as it’s been a used favorite for years: the Honda Fit.
Now, Honda’s tiny but surprisingly practical little hatchback is only just getting in under the wire on the 5-year list. The automaker unfortunately killed it off for North America in 2020, leaving one fewer affordable new car out there for buyers to consider. And a mass exodus of cheap economy cars has followed suit, from the Chevy Sonic and Toyota Yaris (spoiler alert, it makes the list as well) to the Kia Rio and Mitsubishi Mirage. In their place are crossovers, crossovers and more crossovers — none of which are available new for under $20,000 at this point.
iSeeCars includes a list of at least a dozen 5- and 10-year-old cars in its study (full credit to them for the data and the charts). Beyond the Fit, other notable examples include popular models like the Honda Civic, Toyota Yaris and Corolla, with a few interesting results if you’re shopping upmarket or in a different size class. The Buick Encore, for example, has lifted the whole brand’s reputation over the years, to the point where it’s the highest American brand in the J.D. Power U.S. Vehicle Dependability Study. (For the J.D. Power naysayers, I get if you want to write that one off, but it is a data point and, coming through reviews, owners seem to be pretty happy with the Encore).
If you want a larger and classier option, the Volkswagen Passat seems to be a long-lived and understated option, while the Infiniti Q50 is the only higher-end luxury model to make the list. Depreciation sucks if you buy new, but you can work that to your benefit if you’re willing to buy a slightly used example (it’s hardly changed in the past few years before Infiniti finally discontinued it in 2024, anyway).
If your budget is a bit lower, your options don’t dramatically change, with a few notable exceptions.
Moving a bit farther back in time, you can save another $10,000 on average from the 5-year-old used cars list buy shopping around the 2015 time frame. That will get you a car that’s still fairly modern, all while keeping purchase and maintenance costs to the most reasonable levels. Buy any older than this and, while you can occasionally find a diamond in the rough, upkeep may sink any additional savings if you plan to hang onto your car for a few years or longer.
And surprise, surprise, the Honda Fit still takes the top spot as the most reliable option relative to its remaining lifespan and predicted cost to keep it on the road. 2015 was the first year of Honda’s last Fit for the U.S. market, so you’re still shopping within the same generation versus the 5-year examples. Mileage could be something to watch out for here, as well as signs the car has been well-used (i.e. rough), since odds are older units will have been through a few more, perhaps unscrupulous, owners.
The Volkswagen Passat makes another appearance here, as does the Kia Rio and Mitsubishi Outlander. One interesting addition to the 10-year-old list is the early-run Tesla Model S, which we actually bought for $13,000 with 100,000 miles on the clock. Since it’s electric, you’re likely to get a few more years of solid use out of it since there are fewer powertrain items to go wrong. As long as a drive unit doesn’t fail and you don’t face battery issues (which can absolutely tank the value proposition here), you can just keep rolling and occasionally replace wear-and-tear items like tires, brakes and windshield wipers.
What do you think? Would you pick up any of the cars here, or do you have a favorite that isn’t mentioned? Let us know!
